SEI crypto: 600K active users meet bearish bets – What cracks first?
2025-07-03 01:06:12
Main Idea
SEI crypto faces a battle between rising adoption and bearish market sentiment, with key resistance levels and negative funding rates indicating potential for a short squeeze.
Key Points
1. SEI's price is at $0.279, down 1.15% despite strong on-chain momentum, with bulls struggling to break key resistance at $0.29–$0.30.
2. A confirmed breakout above resistance could push SEI toward $0.337, while a rejection may test support at $0.254.
3. Social Dominance for SEI spiked to 0.59%, indicating increased speculative interest, but Funding Rates remain negative at -0.02%.
4. The Open Interest-Weighted Funding Rate was -0.0129%, suggesting bearish sentiment despite improving network metrics.
5. A short squeeze could occur if bulls maintain pressure, potentially driving SEI's price higher despite current bearish bets.
Description
Sei’s adoption is rising sharply, but bearish funding and key resistance may slow a breakout.
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